Northern Abitibi Mining Corp. sold its 1.5% net smelter royalty on the Douay Northwest gold project in Quebec to Aurvista Gold Corp. for C$325,000 in cash.
Aurvista Gold holds a 75% interest in the Douay Northwest property, with SOQUEM Inc. holding the remainder.
The NSR covered 32 contiguous mining claims located in the north-central quadrant of the Douay property.
Northern Abitibi will use the proceeds to evaluate new opportunities, according to its Jan. 31 statement.
"Purchasing and eliminating this royalty cleans up project ownership, improves the Douay economics and opens up opportunities in future financing," Aurvista Gold CFO Bryan Keeler said in a same-day news release.